Citigroup Issues Pessimistic Forecast for Ziff Davis (NASDAQ:ZD) Stock Price

Ziff Davis (NASDAQ:ZD) had its target price cut by investment analysts at Citigroup from $58.00 to $52.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective would suggest a potential upside of 16.06% from the company’s current price.

A number of other research analysts also recently commented on ZD. Barclays boosted their price target on Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group dropped their target price on shares of Ziff Davis from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Ziff Davis presently has a consensus rating of “Moderate Buy” and an average price target of $68.83.

Ziff Davis Price Performance

Ziff Davis stock traded down $2.70 during mid-day trading on Wednesday, reaching $44.80. 79,068 shares of the company were exchanged, compared to its average volume of 322,511. The company has a fifty day simple moving average of $53.54 and a 200-day simple moving average of $51.40. The firm has a market cap of $1.91 billion, a PE ratio of 38.03 and a beta of 1.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. Ziff Davis has a 12 month low of $37.76 and a 12 month high of $70.02.

Institutional Trading of Ziff Davis

Several large investors have recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Ziff Davis by 128.5% in the third quarter. Creative Planning now owns 13,347 shares of the technology company’s stock worth $649,000 after acquiring an additional 7,507 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Ziff Davis by 31,812.6% during the 3rd quarter. International Assets Investment Management LLC now owns 65,740 shares of the technology company’s stock worth $3,199,000 after buying an additional 65,534 shares during the period. Louisiana State Employees Retirement System increased its stake in Ziff Davis by 66.2% in the third quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the technology company’s stock valued at $1,051,000 after purchasing an additional 8,600 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Ziff Davis by 401.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 25,526 shares of the technology company’s stock worth $1,242,000 after purchasing an additional 20,437 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Ziff Davis by 2.8% in the 3rd quarter. New York State Teachers Retirement System now owns 60,762 shares of the technology company’s stock valued at $2,957,000 after buying an additional 1,639 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

Ziff Davis Company Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.